Newcastle United: no Takeover by investors from Saudi Arabia

The controversial Takeover of the English Premier League club Newcastle United through one of Saudi Arabia's sovereign wealth Fund (PIF) supported the consorti

Newcastle United: no Takeover by investors from Saudi Arabia

The controversial Takeover of the English Premier League club Newcastle United through one of Saudi Arabia's sovereign wealth Fund (PIF) supported the consortium is burst. The group of investors withdrew the offer after weeks of Waiting, on Thursday. The takeover documents were in April for testing in the Premier League, their consent for the Deal was required.

"it is With deep appreciation for the community of Newcastle and the importance of football clubs, we have come to the decision that our interest in the Takeover of Newcastle United to withdraw," it said in a Statement, the investment group, from the various media quote. The "lengthy process under the current circumstances, in connection with the global uncertainty" have led to "the potential investment was economically viable".

According to the media, the consortium, led by the British businesswoman Amanda Staveley, Newcastle United for around 300 million pounds (about 340 million euros), reports wanted to take over. The Public investment Fund of Saudi Arabia holds, therefore, 80 percent of the consortium and would thus become the majority shareholder of the club.

Above all, therefore, it had sharp criticism of the possible change of ownership given. The Chairman of the PIF, Saudi Arabia's crown Prince Mohammed bin Salman is. The deal had been criticized by Amnesty International and the wife of the murdered journalist Jamal Khashoggi because of human rights violations in the Gulf state, keen.

in Addition, had warned the Qatar TV station BeIN Sports that the 20 clubs in the Premier League and the League bosses in a letter in front of the business. BeIN Sports has accused the Saudi pirate channel BeoutQ to transfer illegal international sports events and to steal the programme of the Qatari channel. League, Fifa and Uefa keep the allegations on the basis of a study for evidence.

Updated Date: 31 July 2020, 06:20

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